Business, 06.12.2019 22:31 djs1002

Managing the flow of parts and other factors of production into the manufacturing process has been traditionally called by logisticians.

1. physical distribution management
2. logistics management
3. materials management
4. channel management
5. none of the above

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Answer from: xojade

Managing the flow of parts and other factors of production into the manufacturing process has been traditionally called materials management by logisticians. (Option # 3)

Explanation:

Material management is a scientific technique, concerned with planning, organizing and controling of flow of materials, from their initial purchase to destination. It is the process that organizations follow to manage tangible components within its business processes.

It is a very common term used in manufacturing which includes inventory management, purchase management, value analysis, store keeping, maintenance and upkeep of the inventories in hand and in process. It is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements.

Material movement and storage activities should be fully integrated to form a coordinated, operational system which spans receiving, inspection, storage, production, assembly, packaging, unitizing, order selection, shipping, transportation and the handling of returns.

Material management is a service function. It is as important as manufacturing, engineering and finance. The supply of proper quality of materials is essential for manufacturing standard products. The avoidance of material wastage helps in controlling cost of production.

Material control helps to minimize loss by obsolescence,deterioration damage etc. It helps to protect against thefts, wastages,etc. and also helps managers in decision making.

Material management is an approach for planning, organizing, and controlling all those activities principally concerned with the flow of materials into an organisation.

Answer from: Quest

decentralization can the employees to get more involved in the business decision making

Answer from: Quest

You can put most money would be invested in innovation by economic convergence

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